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This is an archive article published on September 18, 2012

8216;Buy Infosys,Tech Mahindra shares8217;

Infosys and Tech Mahindra to 'buy' from 'neutral' citing improved revenue confidence: BofA-ML

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Bank of America Merrill Lynch has upgraded Infosys and Tech Mahindra to 8216;buy8217; from 8216;neutral8217; citing improved revenue confidence and hopes of better earnings.

The investment bank says anecdotal evidence indicates deal closures are picking up and softness in the banking vertical is bottoming.

Infosys rose 1.7 percent,while Tech Mahindra gained 1.8 percent.

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